When I set up a company, and if I wish to create a subsidiary company can anyone tell me the procedure for going about it?
I want to set up a services company, but with a wide range of company objects, might diversify into another area and would be anxious not to tip off my competitors.
Any suggestions appreciated. Thanks
You simply form a new company and make the shareholders of newco Ltd be the existing company.
You should note that a company that becomes part of a group loses audit exemption.
You will need to specify the type of business that the company intends to trade in on incorporation of the company. However most standard objects of a company are usually widely drafted so as to allow most things to be done by the company. You can always change the objects of the company at a later stage.